Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
26 Mar 2025
Residents of Towers A, B, and C of Chintels Paradiso Group Housing Society in Gurugram were directed to vacate their flats immediately. The directive followed a structural audit report by the Central Building Research Institute (CBRI), which declared the towers unsafe for habitation. The Deputy Commissioner of Gurugram issued the evacuation order under Section 163 of the Indian Civil Defence Code, granting a 15-day window for compliance. The decision comes after the partial collapse of six floors of Tower D in February 2022, which had resulted in two fatalities. The District Magistrate cited imminent threats to life and property as the basis for the order, further warning of legal action for non-compliance.
26 Mar 2025
Aruna Babulal Varma, the wife of Omkar Realtors' promoter Babulal Varma, purchased a high-end apartment at Four Seasons Private Residences in Mumbai's upscale Worli locality for INR 68 crore, as revealed by property registration documents. The apartment spans 5,291 sq ft, featuring an additional 310 sq ft balcony and an exclusive area of 922 sq ft. The transaction was reportedly registered at a rate of INR 1.29 lakh per sq ft. Stamp duty of INR 3.42 crore and a registration fee of INR 30,000 were paid for the acquisition. The sale was made by Providence Land Private Limited. Worli continues to attract premium real estate deals, including a recent record-breaking sale by Macrotech Developers.
26 Mar 2025
Ravi Puravankara, founder and chairman of Puravankara Ltd, has acquired 12 commercial units in Business Park 2, Church Road, Marol, Andheri, Mumbai, for a total of INR 242 crore. The purchases were made through RockFort Estate Developer Pvt Ltd and registered on March 19, 2025. The units ranged from 6,749 to 9,998 square feet, with prices between INR 15.65 crore and INR 23.19 crore per unit. This acquisition aligns with Puravankara's investment strategy via its family office. The company continues to strengthen its portfolio, having recently secured prime land in Bengaluru and Thane for large-scale residential and mixed-use developments.
26 Mar 2025
India's housing market experienced a sharp slowdown in Q1 2025, with sales in the top nine cities declining by 23% and new housing supply dropping by 34%, according to PropEquity. This marks the third consecutive quarter with new supply below 100,000 units. Bengaluru and Delhi NCR remained resilient, recording a 10% rise in sales. Rising home prices and economic uncertainties contributed to the slowdown, with speculative investors exiting the market. However, demand for existing inventory remains strong, and infrastructure developments are expected to drive long-term growth, particularly in cities with robust employment opportunities.
26 Mar 2025
NAREDCO has introduced the NAREDCO NextGen Digital Learning Hub, an online platform designed to equip young professionals with industry knowledge, emerging trends, and policy insights. Launched at the NAREDCO NextGen Conclave 2025 in Mumbai, the initiative includes certification programs developed in collaboration with leading institutions. Maharashtra Transport Minister Shri Pratap Sarnaik highlighted its role in preparing future real estate leaders. The conclave also discussed plans to redevelop 3,360 acres of MSRTC land, opening new opportunities in district and taluka-level regions. This platform aligns with global efforts to integrate technology and education in real estate.
Advertisement
26 Mar 2025
Cognizant Technology Solutions has sold its landmark 13.68-acre property in Okkiyam Thoraipakkam, Chennai, for INR 612 crore to Bengaluru-based developer Bagamane Constructions. The property, featuring approximately 400,000 sq ft of built-up space, had been Cognizant's India headquarters for over two decades. This sale is part of Cognizant's strategy to consolidate its Chennai operations into three of its campuses-MEPZ, Sholinganallur, and Siruseri. Bagamane is expected to redevelop the site into high-rise mixed-use towers, reflecting the ongoing trend along Chennai's OMR corridor. The deal was registered earlier this week, with INR 55.08 crore paid to the Tamil Nadu government as stamp duty and registration fees.
25 Mar 2025
The National Stock Exchange (NSE) is set to transform its current Bandra-Kurla Complex (BKC) headquarters into a captive data hub and relocate its primary offices to a newly allotted one-acre site in G Block, BKC, on an 80-year lease. This move supports NSE's expansion and plans for a modern headquarters to be completed within three years. The current Exchange Plaza building, historically significant for Mumbai's financial shift from Nariman Point to BKC, will continue housing key IT and listing services. NSE's expansion reflects its global stature as a leading derivatives exchange, focused on technological innovation and strengthening India's financial infrastructure.
25 Mar 2025
Tribeca Developers and Kundan Spaces, in collaboration with the Trump Organisation, have announced their first Trump-branded commercial real estate project in India. The project, named Trump World Centre Pune, is set to span 1.6 million sq ft, offering over 27 floors of premium office spaces. Located in Pune's Koregaon Park annexe, the development involves an investment of approximately INR 1,700 crore, with sales potential estimated at INR 2,500 crore. Additionally, Tribeca Developers revealed plans to introduce three new luxury residential projects in North and South India, with an expected investment ranging from INR 6,000 crore to INR 7,000 crore in the coming months.
25 Mar 2025
The RG Luxury Homes project in Greater Noida West is set to hand over possession to 600 homebuyers who have been waiting for six years. The developer has secured occupancy certificates for three additional towers under the National Company Law Tribunal's (NCLT) reverse insolvency process, bringing the total to seven towers cleared for possession. The project, which was stalled in 2016 due to financial troubles, is the first in Gautam Buddh Nagar to achieve this milestone under this insolvency route. With only two towers left under construction, RG Group is steadily moving toward completing the first phase of the long-delayed project.Read more
25 Mar 2025
The Thanal housing project, aimed at rehabilitating 99 families from Vikalanga Colony in Thiruvananthapuram, is stalled due to pending technical sanctions. The Uralungal Labour Construction Cooperative Society (ULCCS), contracted for the project, submitted a revised cost estimate exceeding the initial INR 20 crore budget, but the Thiruvananthapuram Corporation has yet to approve it. Residents continue to face poor living conditions as the delay persists. Similar setbacks have affected major projects like Kolkata West International City and Mumbai's Dharavi redevelopment, highlighting the need for streamlined approvals to prevent prolonged hardships for vulnerable communities.
Advertisement
